Deepwater Asset Management LLC Boosts Position in Freshpet, Inc. $FRPT

Deepwater Asset Management LLC raised its holdings in shares of Freshpet, Inc. (NASDAQ:FRPT) by 14.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 190,301 shares of the company’s stock after acquiring an additional 23,768 shares during the period. Freshpet makes up about 4.2% of Deepwater Asset Management LLC’s portfolio, making the stock its 17th biggest position. Deepwater Asset Management LLC’s holdings in Freshpet were worth $10,487,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. EverSource Wealth Advisors LLC raised its holdings in shares of Freshpet by 1,388.2% during the second quarter. EverSource Wealth Advisors LLC now owns 506 shares of the company’s stock worth $34,000 after purchasing an additional 472 shares during the last quarter. State of Wyoming acquired a new stake in Freshpet during the 2nd quarter worth about $34,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in shares of Freshpet during the 2nd quarter valued at about $35,000. Ossiam raised its stake in shares of Freshpet by 81.1% during the 2nd quarter. Ossiam now owns 509 shares of the company’s stock valued at $35,000 after buying an additional 228 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Freshpet by 258.9% in the 2nd quarter. Smartleaf Asset Management LLC now owns 542 shares of the company’s stock valued at $37,000 after buying an additional 391 shares during the period.

Insider Activity

In other news, President Scott James Morris sold 5,142 shares of Freshpet stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $62.33, for a total value of $320,500.86. Following the sale, the president directly owned 30,858 shares of the company’s stock, valued at $1,923,379.14. The trade was a 14.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 4.43% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on FRPT. Morgan Stanley upgraded Freshpet from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $71.00 to $90.00 in a research report on Tuesday, February 24th. Piper Sandler lifted their target price on shares of Freshpet from $80.00 to $87.00 and gave the company an “overweight” rating in a report on Wednesday, February 4th. Weiss Ratings upgraded shares of Freshpet from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, December 29th. UBS Group set a $48.00 price target on shares of Freshpet and gave the company a “sell” rating in a research report on Tuesday, November 4th. Finally, Stifel Nicolaus lifted their price objective on shares of Freshpet from $65.00 to $84.00 and gave the company a “buy” rating in a report on Tuesday, February 24th. Eight investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $76.47.

Freshpet Stock Down 0.3%

FRPT stock opened at $84.11 on Wednesday. The stock has a market capitalization of $4.13 billion, a P/E ratio of 32.73, a P/E/G ratio of 2.58 and a beta of 1.66. The firm has a 50-day simple moving average of $69.04 and a 200-day simple moving average of $60.45. The company has a quick ratio of 4.57, a current ratio of 5.54 and a debt-to-equity ratio of 0.35. Freshpet, Inc. has a 52 week low of $46.76 and a 52 week high of $97.18.

Freshpet (NASDAQ:FRPT) last issued its quarterly earnings results on Monday, February 23rd. The company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.21. Freshpet had a net margin of 12.63% and a return on equity of 6.93%. The firm had revenue of $285.23 million for the quarter, compared to analyst estimates of $285.66 million. During the same period last year, the company posted $0.36 EPS. Freshpet’s quarterly revenue was up 8.6% compared to the same quarter last year. Equities analysts forecast that Freshpet, Inc. will post 1.55 earnings per share for the current fiscal year.

Freshpet Company Profile

Freshpet Inc (NASDAQ: FRPT) is a leading pet food company specializing in fresh, refrigerated meals and treats for dogs and cats. The company’s products are formulated with carefully selected, natural ingredients and are designed to offer a higher level of nutrition and freshness than traditional dry or canned pet foods. Freshpet’s offerings include refrigerated rolls, pâtés and snacks, all of which are sold through the refrigerated section of grocery, mass-market and pet specialty stores.

Freshpet’s product portfolio is built around the concept of fresh, minimally processed recipes that do not require preservatives or artificial colors.